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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
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